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$10.00 TRIAL BALANCES

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JACSONAB
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Q:

Hello there,

Using Microsoft Excel complete the following:            
A. Prepare the necessary closing entries as of December 31, 2011      
B. Post the closing entries to the selected ledger accounts.        
C. Prepare a Post Closing Trial Balance.              
Hints: Only enter infromation in the cells with grey backgrounds.      
  In the general ledger and trail balance you will need to leave some grey cells blank.
 
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Attachments:
ACCT 2001 Week 5 Ch4-Trial Balances.xlsx (16K)
 

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A:
Preview: ... s expense accounts is the net income and you have to close it as well but use the Capital Account instead of Income summary because the net income is transferred to the Capital account at the end of the period. The Drawing account is closed as well to Capital account and is a deduction to ...
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Attachments:
ACCT 2001 Week 5 Ch4-Trial Balances.xlsx (17K)